Air China Limited 中國國際航空股份有限公司

Air China's balance sheet worries
We look at the highly-geared balance sheet of Air China, the bizarre and unfinished mini-subscription by its parent launched 6 months ago, and the likely need for a much larger equity financing if it is going to run on free-market principles, which in turn has implications for Cathay Pacific's 20% stake. (24-Oct-2012)

Excess Baggage at Air China
Days after investors successfully blocked connected loans from China Oilfield Services to its parent group, the Air China IPO touches down in Hong Kong, and deep in the prospectus we find a Stock Exchange waiver for it to lend up to RMB5bn, equivalent to 72% of the IPO proceeds, to a subsidiary of its parent. Here's what you need to know. (3-Dec-2004)